Memphis Business Journal -

Memphis’ biotech industry is well-positioned to be a player in the growing personalized medicine industry, mainly due to the city’s logistical industry.

During a luncheon hosted by Memphis Bioworks Foundation Thursday, Simon Tripp, senior director of Battelle Technology Partnership Practice, said the city could have a serious advantage in biomedical logistics, which includes the device industry, but could also have significant growth in drug and biomarker testing.

Biomarker tests are used by researchers to determine how a certain group of people will respond to drugs or their risk of contracting certain diseases. The biomarker testing market grew to just over $8 billion in 2010, and according to a recent report from BCC Research, which publishes technology reviews and reports, could reach more than $20 billion by 2014.

“Biomedical logistics brings legitimacy to the region because of Memphis’ logistics capabilities,” Tripp said.

“You’ll have a significant advantage in testing because of the presence of companies like FedEx, which make shipping the materials easier.”

In 2009, Memphis Bioworks released a report conducted by Battelle that included five-states, 98-counties which determined the Mississippi Delta, with the infrastructure it has in place now, could create up to 25,000 green jobs in the next 10 years and 50,000 jobs in 20 years. The study estimated a $140 billion economic impact from the new “bio-economy.” That includes $8 billion for the Delta region, assuming the region takes advantage of the land it has available to grow different products used for biofuels.

During Thursday’s luncheon, Tripp said one in four jobs created in the state since 2009 have been bioscience jobs. Tennessee, he said, is one of the top 10 states in the country for patents issued for that time period, with 1,100 issued in 2009, 224 of which were bioscience related.

In addition to biomedical logistics, the region’s longer growing season and agricultural industry are major areas to take advantage of.


Read more: Mid-South's bioscience future bright | Memphis Business Journal